XML 43 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Interest and dividend income:    
Loans, including fees $ 11,168 $ 11,304
Taxable securities 1,503 1,131
Tax exempt securities 264 305
Interest-bearing deposits 19 8
Total interest and dividend income 12,954 12,748
Interest Expense    
Deposits 522 624
Securities sold under agreements to repurchase 209 219
Borrowed funds 190 188
Total interest expense 921 1,031
Net interest income 12,033 11,717
Provision for loan losses 639 431
Net interest income after provision for loan losses 11,394 11,286
Other operating income:    
Wealth management group fee income 1,883 1,750
Service charges on deposit accounts 1,232 969
Net gain on sales of loans held for sale 41 112
Net losses on sales of other real estate owned (30) 0
Income from bank owned life insurance 19 21
Other 1,819 1,170
Total other operating income 4,964 4,022
Other operating expenses:    
Salaries and wages 5,153 4,818
Pension and other employee benefits 1,359 1,424
Net occupancy expenses 1,793 1,362
Furniture and equipment expenses 630 518
Data processing expense 1,481 1,113
Professional services 222 329
Amortization of intangible assets 344 235
Marketing and advertising expenses 293 288
Other real estate owned expenses 87 36
FDIC insurance 269 217
Loan expense 149 143
Merger and acquisition related expenses 86 0
Other 1,477 1,242
Total operating expenses 13,343 11,725
Income before income tax expense 3,015 3,583
Income tax expense 951 1,171
Net Income $ 2,064 $ 2,412
Weighted average shares outstanding (in shares) 4,677,178 4,655,862
Basic and diluted earnings per share (in dollars per share) $ 0.44 $ 0.52